Grab (NASDAQ:GRAB) Sees Strong Trading Volume Following Analyst Upgrade

Grab Holdings Limited (NASDAQ:GRAB) shares saw unusually-high trading volume on Wednesday after Barclays raised their price target on the stock from $4.70 to $5.50. Barclays currently has an overweight rating on the stock. Approximately 15,538,405 shares changed hands during mid-day trading, a decline of 36% from the previous session’s volume of 24,228,771 shares.The stock last traded at $4.80 and had previously closed at $4.89.

A number of other research analysts have also recently commented on GRAB. JPMorgan Chase & Co. boosted their target price on shares of Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research report on Tuesday. Benchmark reiterated a “buy” rating and set a $6.00 price target on shares of Grab in a research report on Tuesday. Evercore ISI lifted their price target on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday. Mizuho increased their price target on Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Jefferies Financial Group dropped their target price on shares of Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Grab has an average rating of “Buy” and a consensus price target of $5.48.

Hedge Funds Weigh In On Grab

A number of institutional investors have recently modified their holdings of GRAB. Dorsey & Whitney Trust CO LLC bought a new position in Grab in the 1st quarter worth approximately $32,000. Blue Trust Inc. lifted its holdings in shares of Grab by 53.6% during the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after acquiring an additional 3,408 shares during the period. Sage Rhino Capital LLC acquired a new stake in shares of Grab during the second quarter worth approximately $38,000. Traynor Capital Management Inc. bought a new position in Grab in the 3rd quarter valued at $41,000. Finally, Prospect Financial Services LLC acquired a new position in Grab during the 2nd quarter worth about $53,000. Institutional investors own 55.52% of the company’s stock.

Grab Price Performance

The company’s 50 day moving average price is $3.87 and its 200 day moving average price is $3.61. The firm has a market capitalization of $18.56 billion, a P/E ratio of -236.50 and a beta of 0.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $716.00 million during the quarter, compared to the consensus estimate of $705.40 million. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. During the same period in the previous year, the firm posted ($0.02) earnings per share. As a group, sell-side analysts anticipate that Grab Holdings Limited will post -0.04 EPS for the current fiscal year.

Grab Company Profile

Grab Holdings Limited engages in the provision of superapps in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company offers its Grab ecosystem, a single platform with superapps for driver- and merchant-partners and consumers, that allows access to mobility, delivery, digital financial services, and enterprise sector offerings.